Land and a warehouse were acquired for $890,000. What amounts should be recorded in the accounting records for the land and for the warehouse if an appraisal showed the estimated values to be $400,000 for the land and $700,000 for the warehouse?
A.
$323,960 for land; $566,040 for warehouse.
B.
$400,000 for land; $700,000 for warehouse.
C.
$400,000 for land; $490,000 for warehouse.
D.
$190,000 for land; $700,000 for warehouse.